Addition on account of bad debt - embezzled by one of the ...

Case Laws Income Tax

April 23, 2019

Addition on account of bad debt - embezzled by one of the employees of the company - Non–filing of FIR before the Police - embezzlement may not be allowable as bad debt but certainly it has to be allowed as business loss

View Source

← Previous Next →

Addition on account of bad debt - embezzled by one of the ...

Case Laws Income Tax

April 23, 2019

You may also like:

Power of ITAT u/s 254 - Addition on account of bad debt deleted - Tribunal has committed no illegality in upholding the finding of fact recorded by the commissioner...

Disallowance on account of bad debt/trading loss - the assessee is eligible for the deduction of the amount embezzled by the employee as a trading loss.

Disallowance of bad debts written off - Admittedly, the provision was created by the assessee in the earlier year out of the profit and loss account. Thus, any...

Disallowance of bad debts u/s 36(1) - The non-realisation of debt can result in bad debt written off if the same is written off in the books. Since it is not the case...

Provision for bad and doubtful debts u/s 36(1)(viia) against the advances of rural branches - The circular mentions that the provisions of new clause (viia) of section...

Deemed income / addition u/s 41(1) - Recovery of bad debts written off - the bad debts written off did not exceed the credit balance in provision for bad and doubtful...

Bad Debts - once the deduction made by the clients account is debited and the assessee’s accounts are credited, the conditions laid down by section 36(1)(vii) read with...

The CIT(A) partly allowed and restricted the addition on account of commission expenses at 0.25% as compared to 2% adopted by the Assessing Officer. The coordinate bench...

Bad debts - Allowability towards service tax which was written off as bad debt u/s. 36(1)(vii) - Since service tax payment recovery is denied by the DIP, the assessee...

High Court dismissed petition seeking quashing of FIR related to clandestine manufacture and supply of cement clinker and cement without invoices and accounting. Court...

Bad debts in respect of chit groups - Bad debts can be allowed to the extent of instalments defaulted by the prized subscribers and written off as bad debt - AT

Additions for recovery of bad debts u/s 41 - As per appellant as recovered the bad debts of the companies, which got amalgamated with the appellant company, and,...

Disallowance of provision for Bad Debt Written off - provision made by the assessee for bad and doubtful debts is only a provision, but not actual written off of bad...

This circular clarifies that investors can continue to submit the bid-cum-application form online using 3-in-1 type accounts (linked online trading, demat and bank...

Deduction of bad debt written off u/s. 36(i) (vii) - lease rental - the prospects of recovery of lease rentals were quite bleak and the assessee considering that the...

Quick Updates: